Connect with us
SIS

Gambling in the USA

PGCB Reports $3.38 Million in Tax Revenue from First Full Year of Regulated Fantasy Contests

George Miller

Published

on

PGCB Reports $3.38 Million in Tax Revenue from First Full Year of Regulated Fantasy Contests
Photo Source: armenianweekly.com
Reading Time: 2 minutes

 

The Pennsylvania Gaming Control Board posted on its website the monthly Fantasy Contests Revenue Report which includes totals from the first full year of the Commonwealth’s collection of taxes on the play of these games.

The amount of revenue generated through the play of fantasy contests in the first 12 months of operation in Pennsylvania was $22,542,688.  That generated $3,381,403 in tax revenue for the Commonwealth.

Beginning last year, Fantasy Contest Operators in Pennsylvania were required by Act 42 of 2017 to be licensed by the Board and to pay a 15% tax on the adjusted revenues derived from Pennsylvania players.

The report on the Board’s web site, https://gamingcontrolboard.pa.gov, provides a breakdown on fees collected from the play of Pennsylvania participants, the Fantasy Contest Operators’ adjusted revenue, and tax revenue collected by the Commonwealth.

Fantasy Contests adjusted revenue and tax revenue for each of the providers for April 2019 and for the 12-month period is displayed in the following tables:

Fantasy Contests Provider

April 2019 
Fantasy Contests
Adjusted Revenue

April 2019

Fantasy Contests

State Tax Due

DraftKings

$845,553.33

$126,833.00

FanDuel

$961,867.32

$144,280.10

DRAFT

$23,348.60

$3,502.29

Yahoo Fantasy Sports

$15,864.70

$2,379.71

Sportshub Technologies

$3,627.45

$544.12

Fantasy Draft

$1,918.83

$287.82

Boom Fantasy

$371.38

$55.71

Fantasy Football Players Championship

$0.00

$0.00

Full Time Fantasy Sports

$0.00

$0.00

Total

$1,852,551.61

$277,882.75

Fantasy Contests Provider

May 2018 – April 2019 
Fantasy Contests
Adjusted Revenue

May 2018 – April 2019

Fantasy Contests

State Tax Due

DraftKings

$11,549,460

$1,732,419

FanDuel

$10,274,886

$1,541,233

DRAFT

$320,105

$48,016

Fantasy Football Players Championship

$184,932

$27,740

Sportshub Technologies

$114,812

$17,221

Fantasy Draft

$41,103

$6,165

Yahoo Fantasy Sports

$28,128

$4,219

Full Time Fantasy Sports

$16,095

$2,414

Boom Fantasy

$12,785

$1,918

FASTPICK.COM*

$381

$57

Total

$22,542,688

$3,381,403

* Withdrew as a PA Operator

 

About the Pennsylvania Gaming Control Board:

The Pennsylvania Gaming Control Board is tasked to oversee all aspects of the state’s casino industry, including sports wagering offered currently at eight locations. The oversight also includes other new gaming initiatives, expected to be launched in the coming months, which were created through Act 42 of 2017, an amendment to the Race Horse Development and Gaming Act.

The Commonwealth’s casino industry currently consists of 10 stand-alone and racetrack casinos in operation, along with the two smaller resort casinos.  These facilities collectively employ over 16,000 people and annually generate approximately $1.4 billion in tax revenue from slot machine and table games play. The largest portion of that money is used for property tax reduction to Pennsylvania homeowners.

Additional information about both the PGCB’s gaming regulatory efforts and Pennsylvania’s gaming industry can be found at gamingcontrolboard.pa.gov. You can also follow the agency on Twitter by choosing @PAGamingControl.

Source: Pennsylvania Gaming Control Board

George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

Continue Reading
Advertisement
Comments

Gambling in the USA

Regulated Online Gambling Market Attracts the Attention of Big Players

Niji Narayan

Published

on

Photo source: thefiscaltimes.com
Reading Time: 1 minute

The regulated online gambling market in the U.S. has attracted the attention of many big players, both within and outside the gambling industry. This includes a disproportionate amount of offshore companies, due to the fraught history of online gambling in the states.

Since the advent of the Internet, the federal government and the Justice Department have taken a hostile stance towards online gambling. With the exception of sports betting in recent years, online casino gambling still remains very much within the crosshairs of the government.

Over the years, this has led to the stagnation of the online gambling market in the U.S., with the notable exception of Las Vegas. When you discount the casinos in Atlantic City and Las Vegas, very few homegrown companies are active in the online gambling scene, especially on the tech side of the equation.

In the global market, Europe has stolen a march on everyone else with their more liberal take on regulated online gambling. This has led to the rise of a diverse field of companies looking to enter the newly opened online betting markets in the United States in 2018–19.

Continue Reading

Gambling in the USA

Foxwoods Resort Casino Installs Third Interblock Stadium

Zoltan Tundik

Published

on

Photo by trashhand from Pexels
Reading Time: 2 minutes

 

Luxury gaming manufacturer and electronic table game (ETG) market leader Interblock® announced an expansion of their footprint at Foxwoods Resort Casino, North America’s largest resort casino. The most recent addition to the casino is a Diamond dealer assist stadium to the Rainmaker Casino. The expansion takes the product portfolio of Interblock to 85 seats at the property.

John Connelly, CEO of Interblock commented “The executive management team at Foxwoods Resort Casino has always strived to be first when it comes to innovation. The introduction of a third stadium within the same casino is an indication of the financial benefits Foxwoods has realized.

A combination of new players, operational savings, and the ability to increase both handle and hold percentages has proven to bring the incremental EBITDA Foxwoods was looking for. This could have only been achieved with the support of the casino.”

Foxwoods Resort Casino was one of the first properties in North America to install the company’s award-winning Pulse Arena in 2016, which was branded as PLAY Arena. PLAY Arena is a technological experience that delivers a hybrid of entertainment, gambling, and social interaction. An immersive video wall displays games in play, statistics, and game history. New Interblock technology provides players with the ability to play up to four games simultaneously from a single play station within the stadium including live Multi-hand Blackjack, Roulette, Baccarat and video Craps and Sic Bo.

Performance results from PLAY Arena have encouraged property management to add additional Interblock Stadiums to their casino floor. In addition to PLAY Arena in the Great Cedar Casino, the property will now feature Diamond dealer assist stadiums in both their Rainmaker Casino and Fox Tower Casino. The stadiums consist of 30 and 24 seats respectively and feature live Multi-hand Blackjack, Dual-shoe Baccarat and Roulette. Interblock stadium solutions allow operators to easily transform a dealer assisted stadium into a fully automated stadium, ensuring that the section of the casino floor is always active and able to generate constant revenue even when live dealers are not present. The live dealer tables are equipped with an easy to use dealer console and a camera that allows players to view the live gameplay from their play station screen in addition to the large LCD displays above. Play stations are also equipped with brilliant high-definition graphics offering side bets, trends, game rules and a strategy card for Blackjack.

Wayne Theiss, Vice President Table Games at Foxwoods Resort Casino said “We are very excited about our continued partnership with Interblock. Our recently expanded footprint is a testament to the tremendously successful performance of their units on our floor.”

Continue Reading

Gambling in the USA

Scientific Games, Big Time Gaming and Golden Nugget Bring Online Content to New Jersey

Zoltan Tundik

Published

on

Photo by bruce mars from Pexels
Reading Time: 4 minutes

 

Scientific Games Corporation (NASDAQ: SGMS) (“Scientific Games”) ramped up its online presence in New Jersey through a new launch that sees Big Time Gaming (“BTG”) content available via its Open Gaming System (“OGS”) with Golden Nugget Online Casino (“Golden Nugget”).

BTG is one of Scientific Games’ top-performing network partners in the UK and European markets; this partnership brings their content to the growing U.S. space backed by the renowned OGS platform, beginning with Golden Nugget. The launch reimagines play by giving Golden Nugget an entire library of BTG and Scientific Games content, including games that use the massively popular Megaways™ mechanic like the blockbuster slot Bonanza, available at launch next week.

Nik Robinson, BTG CEO, said: “Our content and Scientific Games’ platform make for a perfect New Jersey offering. The U.S. digital gaming market is gaining traction, and we’re excited to provide Golden Nugget’s players with our growing library of innovative titles.”

Expanding on its strong partnership in Europe with BTG, this launch underpins the reliability and impact of the OGS platform, which brings thousands of games to operators with a single, easy integration. Golden Nugget now has access to a revolutionary portfolio of game content that brings together two of the industry’s creative forces.

Dylan Slaney, SVP Casino and Platforms for SG Digital, said: “Our CONNECT partner program gives developers and innovators the opportunity to offer their content to more players than ever before via one seamless integration, and this launch is a perfect example. By leveraging BTG’s innovative prowess, our strong game brands (both licensed and proprietary), and Golden Nugget’s loyal audience, we’ve created a truly unprecedented gaming ecosystem for New Jersey players.”

“Golden Nugget Casino leads the New Jersey market with the largest portfolio of slot games,” said  Thomas Winter, Senior Vice President and General Manager, Golden Nugget Online Casino. “Working with Scientific Games and Big Time Gaming to bring these innovative Megaways™ slot games to the U.S. provides our growing player base an exclusive first look at these games that are pioneering the online slots industry.”

Megaways™ is a trademark owned by Big Time Gaming. Used with permission. All rights reserved.

© 2019 Scientific Games Corporation. All rights reserved.

About Scientific Games

Scientific Games Corporation (NASDAQ: SGMS) is a world leader in gaming entertainment offering the industry’s broadest and most integrated portfolio of game content, advanced systems, cutting-edge platforms and professional services. Scientific Games is #1 in technology-based gaming systems, digital real-money gaming and sports betting platforms, casino table games and utility products and lottery instant games, and a leading provider of games, systems and services for casino, lottery and social gaming. Committed to responsible gaming, Scientific Games delivers what customers and players value most: trusted security, engaging entertainment content, operating efficiencies and innovative technology. For more information, please visit www.scientificgames.com.

Scientific Games Contacts
Corporate Communications:

Scientific Games:  Susan Cartwright +1 702-532-7981
Vice President, Corporate Communications
susan.cartwright@scientificgames.com

 Investor Relations:
Scientific Games:  Michael Quartieri +1 702-532-7658
Executive Vice President and Chief Financial Officer

 

About Big Time Gaming:

Big Time Gaming is the thought leader in slot development, providing the world’s largest online casino operators with its revolutionary OMNI product range. Big Time Gaming continues to lead the charge with games such as Bonanza and Extra Chilli breaking records in turnover and topping the European iGaming charts. With its first branded release Who Wants to be a Millionaire, Big Time Gaming has a growing portfolio of innovative slots and games available through Scientific Games, Microgaming and now Relax.

www.bigtimegaming.com

 

 

About Golden Nugget Atlantic City

The Golden Nugget Atlantic City, located on Frank S. Farley Marina is a premier resort destination, offering guests more than 740 rooms and suites. The entire property went through a $150 million complete renovation 5 years ago and has taken on a fresh, modern look to include a high-energy casino featuring the most popular slot and video poker machines, table games, and poker room; nightly entertainment, new bars and lounges, Haven Nightclub, stylish retail offerings, as well as Landry’s signature world-class restaurants such as Chart House and Vic & Anthony’s Steakhouse; a luxury spa and salon; and H20 poolside lounge. The Golden Nugget has already established strong brand recognition worldwide with locations in Las Vegas and Laughlin, NV, Biloxi, MS and Lake Charles, Louisiana.

Launched in November 2013, GoldenNuggetCasino.com offers the best user experience to New Jersey online and mobile real-money gaming players. Supported by the largest selection of games for both desktop and mobile players, a user-friendly interface and a world-class Customer Service, GoldenNuggetCasino.com was voted Operator of the Year in 2015, 2016 and 2017 at the iGaming North America Awards and Operator of the Year 2017, 2018 and 2019 at the EGR North America Awards.

 

 

 

Forward-Looking Statements

In this press release, Scientific Games makes “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as “will,” “may,” and “should.” These statements are based upon management’s current expectations, assumptions and estimates and are not guarantees of timing, future results or performance. Therefore, you should not rely on any of these forward-looking statements as predictions of future events. Actual results may differ materially from those contemplated in these statements due to a variety of risks and uncertainties and other factors, including those factors described in our filings with the SEC, including Scientific Games’ current reports on Form 8-K, quarterly reports on Form 10-Q and its latest annual report on Form 10-K filed with the SEC on February 28, 2019 (including under the headings “Forward-Looking Statements” and “Risk Factors”). Forward-looking statements speak only as of the date they are made and, except for Scientific Games’ ongoing obligations under the U.S. federal securities laws, Scientific Games undertakes no obligation to publicly update any forward-looking statements whether as a result of new information, future events or otherwise.

Continue Reading
Advertisement
NSoft

Global Gaming Industry Newsletter – Weekly Digest (sent every Wednesday)

Please select all the ways you would like to hear from European Gaming Media and Events:

You can unsubscribe at any time by clicking the link in the footer of our emails. For information about our privacy practices, please visit our website.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp's privacy practices here. Read more about European Gaming Media and Event's Privacy Policy and Terms of Service.

Subscribe to our News via Email

Enter your email address to subscribe to our news and receive notifications of new posts by email.

Latest by author

Trending

Notice for AdBlock users

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.